Marketing Essentials Assignment Sample: IKEA

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MARKETING ESSENTIALS
Table of ContentsINTRODUCTION................................................................................................................................1TASK 1..............................................................................................................................................1P1. Roles and responsibilities of marketing department............................................................................1P2 Roles and responsibilities of marketing relate to organisational context...................................................4TASK 2..............................................................................................................................................5P3 Various organisations apply marketing mix to the marketing planning.....................................................5TASK 3..............................................................................................................................................8P4 Basic marketing plan.....................................................................................................................8CONCLUSION..................................................................................................................................12REFERENCES..................................................................................................................................13
INTRODUCTIONMarketing activities plays key role in building strong relationship and effectivecommunication with target customer. The primary duty of management of any company is toadopt various marketing approaches that contribute significantly towards attain long termsustainability in the marketplace. With the help of marketing, firms are able to determineunfulfilled desire and needs of potential buyers and take necessary steps for fulfilling the same. Itdefine company activities mainly related with advertising, buying, sailing or distributing aproduct or service. The main objective of every business entity is to satisfy the diverse needs andwants of target consumer and for achieving this in an appropriate manner, company usesmarketing tool (Baker and Saren, 2016). The chosen organization for this report is IKEA whichis a leading multinational group that chiefly deals in designing and selling ready to assemblefurniture, home accessories and kitchen appliances. The main purpose of this report is to identifyroles and responsibilities off different marketing function, how marketing function is inter-related with other functional department of organization. Additionally, it also covers marketingmix of two different organization and marketing plan of selected association for the comingperiod.TASK 1P1. Roles and responsibilities of marketing departmentOverview of IKEAIn 1943, Sweden was the place where IKEA's first store was launched where companystarted selling products and services to consumers. From then this firm has achieved manyawards and made or generated high revenue which has helped them in having world's largestworkforce from all other business firms who are doing business at international level. It has beenlocated that this organisation mostly does two works and these are: designing and selling of theproducts that company made to sell them s that consumers can fulfil their needs andrequirements (Bastable, S.B., 2016). This retailer mostly deals in furniture, home accessories andkitchen appliances and has awarded as world's largest retailer in furniture sector. Along with this,business firm also believes in bringing in innovation in their produces that they are offering sothat to grab good position at marketplace of United Kingdom and in other countries as well. Inthe year of 2016, revenue which was generated by IKEA was35.074 billion and carried around
53.967 billion as value of asset of this organisation. But, if this firm needs to maintainsustainability strong it is must for this organisation to keep on making modifications with thehelp of marketing department of IKEA.MarketingThe concept of marketing can be defined as an art and science of exploring, satisfying,developing and delivering high value to satisfy the diverse requirement of a target market orcustomer at a profit. According to the American Marketing Association " it refers to the set ofprocesses, activity and Institution for creating, delivering, communicating and exchangingoffering that creates value for buyers, society and clients at large. Basically, it define the mannerby which company engage or connect themselves with customer so as to sell their goods orservices. It's also help in building strong relationship with customer's overtime. In today's era,where nothing is constant not even the likes and dislikes of consumer. Therefore it becomeessential for association to keep aa constant eye on latest trend or choices of customers so thatthey can modify their product or services accordingly. One of the important element ofmarketing is related with promotion and its various channels. The main aim of organization is toearn maximum profit by selling their goods and services and for achieving this they are requiredto offer their product to such customer who actually needs it (Desai, 2013). With the help ofmarketing function, firm can easily create value for their product and as a result customer getsinstantly attracted towards such goods or services that creates value for their money.Development of marketing concept:Marketing concept is developed in order to attractmore and more customers in a speculated period of time as it includes strategies and plan ofaction which company can follow for better growth at market area. This includes five concept i.e.production, product, selling, societal and marketing concept as well.Marketing process:This mainly consist of 5 components which are given below so as tounderstand it in a better manner:Understanding of market areas along with the customer's needs and wants. Marketingofferings are taken into consideration as in this consumers look out for products, servicesand facilities that are provided by company so as to identify whether these are accordingto choices and preferences. In addition to this, marketing myopia is also considered inthis company majorly focus on needs of existing customers so that they cannot loose their
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